Swallowed Whole

Debt biteThe disconnect between how most of us working folk view the world, and live our lives, and way the ‘El-lite’ manage things is in a word ‘Staggering’. This could not be more clearly defined than the reality highlighted in a recent article by Greg Corombos, titled; U.S. borrowing ‘$2 Million Every Minute, Every Day’. Now when we read these words, our first reaction runs the gambit of; OMG, this can’t be true, to huh-what, and so on.

Let’s break this down to put it into perspective; $2 Million per minute = $120 Million per hour, which = $2,880,000,000 per day (two billion eight hundred eighty million per day). Keeping the numbers on the ‘daily bread’ dial should be enough to ‘rattle our cages’. Remember now this is not the number of total spending (that’s an even greater number). This is the amount of ‘debt’ that is racked up in the name of the ‘Tax Payers’ each day; borrowed each day. This is “The People’s Debt”, encumbered in our name. The political ‘El-lite’ obviously have no plans or ability to ever pay these massive Trillions back.

We sing and write about being ‘Surrounded’ (which we are in every direction), but this is beyond ‘Alice Through The Looking Glass’ where reality is turned inside out and inverted from the norm. This is frankly beyond our ability to apply logic or rational thought processes to these numbers. Obviously there is going to be day of reckoning somewhere in our future. The ‘margin call’ IS coming, and when is does ….

Here are some quotes from the article by Greg Corombos;

OUt of control“lawmakers forged a budget agreement in February that will crank up both military and domestic spending and create trillion-dollar deficits for years to come. Rothfus voted against that deal. He says it is unacceptable for lawmakers to look the other way on debt and deficits.

“That means we are borrowing two million dollars every minute, every day of the year. That’s what a trillion dollars is,” said Rothfus. “We have to get serious about this spending problem that we have. We are collecting more tax revenue than ever. We have to get back to healthy economic growth, because that’s actually going to help generate revenues to pay for programs that people expect,” said Rothfus.

He says a double-digit growth in domestic spending is irresponsible given other pressing priorities.

To Read The Entire Article By Greg Corombos (CLICK HERE)

 

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